Abstract
This study analyses the key drivers of innovation and competitiveness in small and medium-sized enterprises (SMEs) in Latin America and the Caribbean between 2006 and 2023. Using panel data regression (fixed and random effects) and machine learning models, the authors identify the most significant enablers of SME innovation. In addition, they find that political stability plays a positive role, while inflation and corruption significantly constrain performance. The study integrates classical innovation theory with emerging insights from Asian economies and highlights the role of political culture in shaping SME resilience.
| Original language | English |
|---|---|
| Pages (from-to) | 9-32 |
| Number of pages | 24 |
| Journal | Cepal Review |
| Volume | 2026-April |
| Issue number | 147 |
| DOIs | |
| State | Published - Apr 2026 |
| Externally published | Yes |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth -
SDG 9 Industry, Innovation, and Infrastructure
Keywords
- competitiveness
- data analysis
- econometric models
- economic development
- economic statistics
- Latin America and the Caribbean
- measurement
- Small and medium enterprises
- technological innovations
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